No REIA in my area (Southern Oregon)? Ideas?
So if you listen to the BP podcast at all, you'll hear over and over again one of the BEST things you can do when first starting out as a REI is going to local community event like a REIA meeting. I would love to go meet people and talk real estate investing with other people and learn as much as I can. I would be sooo willing do free work for a more experienced investor just so I could learn the ropes.
Unfortunately I live in southern oregon, and the closest meetings are apprx 4 hours away, which isn't ideal for me since I work 40+hrs a week and I've done some searching and there's only a couple members of BP that don't seem very active. I've considered putting on my own meeting, but really I wouldn't know how to start because I don't know the format of a traditional meeting + I'm brand new to real estate investing, so I'd feel a little foolish of leading any type of meeting?
Anyhoo, anybody else in a similar situation? What are some things you've done to network with locals?
I used to live down there and my first recommendation is to move away. Just kidding, but I went to school at Southern and that area was just too small for me.
In regards to your question there is a reia in Eugene that meets 2x a month although that is about 3 hours from you. I would probably go all out to find a mentor in the area. I'm no expert and I'm sure other people would have different ideas but to start I'd look at Craigslist and see is there is anyone buying/selling real estate that sounds like an investor, maybe says something about wholesaling or flipping. Call them to introduce yourself.
I also hear about people going to the title company and asking for reports of cash only sales in the area and you could maybe do that and contact some of the more frequent buyers to offer to take someone to lunch to learn or even to act as an unpaid intern to do grunt work and get your feet wet.
Reia are good but not the end all for networking. You will probably just need to make the initial contact because they will probably be able to direct you to other investors since it's such a small community I'm betting most investors there would know the rest by first name.
Hahahaha, your first sentence Jarred hits closer to home than you might think :)
My wife and I think about moving all the time, so of course we went the opposite direction and bought our first house here recently in Medford. Anyways those are some great ideas on how I could get in contact with some cash investors. If I don't find any wholesalers (my short term goal) perhaps I could at least start building a buyers list.
Thanks!
You could always start your own REIA group. :)
Hi Walter,
I know it is a trip to Eugene from Medford, and believe it or not, there is a gentleman that is driving up for the REIA meetings at least once a month in Eugene from a town outside of Medford.
By the way, I am the moderator for the meetings in Eugene, and on the board of directors for the Northwest REIA in Portland. I travel (only 120) to get to the meetings in Portland, and then drive back the same night. It was with the encouragement of Cody Cox, our NWREIA President, I started the satellite group in Eugene, OR in September of 2012.
Please email me and I can set up an introduction for you, as I know he has been networking in Medford to someday start a REIA group.
One idea is to go to any auctions that are happening in your area, at the courthouse or wherever they do it there. Anyone there will be someone who will be at least somewhat useful to talk to, network with and maybe even mentor you.
@Walter V. ultimately I recommend starting your own. Here's how to do it without any experience.
1. Find an experienced wholesaler in your area
2. Invite her to speak at your meeting about how to wholesale (tell her no pitching - just informational)
3. Ask her to reach out to her contacts (she already will have a database) about the meeting
4. You make sure at least 3 of your friends go to the meeting
5. Between the two of you, you should have 10+ total people at the meeting
The meeting can be structured as follows:
- Introductions (everyone does an intro saying their investing background and what they want to learn about wholesaling)
- Speaker speaks
- You ask group what topic the next meeting should be on. Then you find a speaker who has experience and, BAM, you've got yourself the next meeting
http://www.meetup.com/Medford-Real-Estate-Networking-Meetup/
@Walter V - I have to agree with the members that suggested staring your own meetup group. This is how I did it in Fresno when I was looking for a meetup group. Now I actually had a coupe of groups to go to in Fresno , but they only happen once a month and I was looking for something I that I could attend every week.
I t was probably one of the best investment moves I've made in 15 years. I wish I had done it sooner - but it never occurred to me. One day, I was talking to some members on BP and just felt like there was not enough traction in talking online and thought it would be nice to meet up in person for a small get together so I decided to ask if any of them would be interested in meeting in person to discuss investments - when the response was overwhelmingly positive - I opened up a meetup page the next day and announced it to BP.
Within in hours it was filling up and by the first meetup we had 24 people show up. Some of those people are now my business partners and several people in the group are now doing business with each other and sharing deals.
We have had Escrow officers speak to the group as well as hard money lenders, CPA's, and I have several other speakers lined up for the next few months. It's takes a little time coordinate everything , set the topics, location, and speakers, but it is well worth it. I have never had so many real estate contacts in my entire career of investing and it feels good to hang out with others who been through it too and who are also looking for new ways to connect and do business - it can be very invigorating.
I say - if you cannot find a local meetup - start your own - it doesn't have to be fancy or anything big - simply met at a coffee shop or someplace where the group can talk like a Denny's or local restaurant and just start tossing some ideas around - don't worry about content so much - you have a group of people in front of you full of content - just start asking how people are doing business - what works for them - what isn't working - investors love telling war stories. Your first meeting can be really easy because there doesn't even need to be a topic other -"lets get together and talk Real Estate" as it more of an opportunity for local investors to get to know each other.
In any case - good luck with it - keep us up to date on what happens -
I live in Medford and my husband and I would be very interested in coming to a group! I've been fairly inactive because we just had our second son three weeks ago. :) But we are also brand new to investing and would love to learn more. We're hoping to purchase our first investment property within a year (things are a little crazy with a newborn and a two year old at the moment). Anyway, if you do start a group please let me know! I'd be happy to share my email.